HALISTER: AIG 1Q Oper. EPS Misses Est.; About $4.37b Shrs Bought Back YTD

AIG 1Q Oper. EPS Misses Est.; About $4.37b Shrs Bought Back YTD

(Bloomberg) -- AIG 1Q oper. EPS 65c, est. $1.00 (range: 73c-$1.13).
  • AIG bought back $3.5b shrs, $173m warrants during 1Q; this qtr through May 2, co. did $870m more in shr buybacks
  • Property Casualty loss ratio 68.2% vs 68.1% y/y
    • Adj. accident yr loss ratio 64.5% vs 64.4% y/y
  • P&C investment income $577m, down 44% y/y
    • Cites lower income on alternative investments
  • Return on equity -0.8% vs +9.2% y/y
    • Normalized ROE ex-AOCI, DTA 8.9% vs 7.8% y/y
  • General oper. expenses ex-FX down 5% y/y
  • Book value $78.28/shr at period end vs $80.16 y/y
    • BV ex-AOCI $73.40/shr vs $72.25 y/y
  • Call 8am Tuesday; webcast at www.aig.com
  • NOTE: Earlier, AIG raised gross $1.25b through institutional placement of 740m ordinary H shrs of PICC P&C
Alert: HALISTER
Source: BFW (Bloomberg First Word)

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AIG US (American International Group Inc)

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